In April 2018, the stock was trading for around $42. They closed this week at $21.85, a 48 percent loss. Before the court’s judgement hit last May, the stock was trading above $60.<\/p>\n
During the company’s fourth-quarter call with investors, Scientific Games CEO Barry Cottle was asked about the potential social gaming IPO.<\/p>\n
\nWe are considering a possible initial public offering of a minority interest. The process is moving along,” Cottle explained. “We anticipate that the proceeds from the IPO would primarily be used to repay debt.”<\/p>\n<\/blockquote>\n
SG has plenty of debt \u2013 its most recent filing showing $8.7 billion in outstanding liabilities.<\/p>\n
“As we mentioned before, we obviously have restrictions related to the SEC that prevents us from saying a lot on this right now. But our motivation is obviously to unlock value of social \u2026 and then secondarily to help us use the proceeds to pay down debt and deliver the business from a motivational perspective,” Cottle revealed.<\/p>\n","protected":false},"excerpt":{"rendered":"
Scientific Games, one of the largest manufacturers of gaming industry and lottery equipment, has filed with the US Securities and Exchange Commission (SEC) to hold an initial public offering (IPO) for its social gaming business. In a statement, Scientific Games says the social gaming business will officially be known as “SciPlay” and will be traded […]<\/p>\n","protected":false},"author":25,"featured_media":102231,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,16693],"tags":[],"acf":[],"yoast_head":"\n
Scientific Games Plans Public Listing for Social Gaming Business Unit<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n